Loews Co. (NYSE:L) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of Loews Co. (NYSE:L) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,521 shares of the insurance provider’s stock after selling 172 shares during the quarter. Kentucky Retirement Systems’ holdings in Loews were worth $1,060,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of L. Assenagon Asset Management S.A. raised its stake in Loews by 345.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock valued at $25,114,000 after acquiring an additional 229,965 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Loews by 92.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock valued at $37,745,000 after purchasing an additional 229,956 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Loews by 22.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock valued at $44,992,000 after purchasing an additional 105,810 shares during the period. Barclays PLC raised its stake in shares of Loews by 13.1% during the third quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after purchasing an additional 87,259 shares in the last quarter. Finally, State Street Corp lifted its holdings in Loews by 1.0% in the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after purchasing an additional 82,581 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Loews Stock Down 0.3 %

Shares of L stock opened at $82.72 on Monday. Loews Co. has a 1 year low of $72.91 and a 1 year high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The business’s fifty day moving average is $84.37 and its 200-day moving average is $82.21. The stock has a market cap of $17.61 billion, a PE ratio of 12.93 and a beta of 0.83.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio is currently 3.91%.

Insider Activity

In related news, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,370 shares of company stock worth $1,055,627. Insiders own 18.70% of the company’s stock.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.